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Fitbit, Apple Lead Surging Wearables Market

Are people buying wearable gadgets like the Apple Watch? The answer is a resounding yes, at least according to a new report from market research firm IDC.

Overall, 21 million wearables were shipped in the third fiscal quarter of 2015. That is an increase of 197.6 percent from the same time last year.

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Fitbit still leads the pack with 22 percent of the market, according to the report. Apple currently owns 18.6 percent — a figure made more impressive by the fact that it had not even entered the market at the same time in 2014. (The Apple Watch was released in June 2015).

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Perhaps the biggest surprise is who came in third place. China-based Xiaomi saw an 815 percent increase in shipments over the year, enough to jump past Garmin. Another Chinese company, XTC, beat out Korean electronics giant Samsung for the fifth spot on the list.

"The early stages of the wearables market have led to tight competition among the leading vendors, and Chinese vendors have seized upon market momentum to grab market share," Ramon Llamas, research manager for IDC's wearables team, said in a statement.

A few recent and upcoming releases could impact the market, including the GPS-equipped Moto 360 Sport and the Pebble Time Round.

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